Interesting insight into SDR's (Special Drawing Rights).
Click Here.
Interesting insight into SDR's (Special Drawing Rights).
Click Here.
Perhaps this serves to translate:
Quote:
"Since we lack any ability to pay you in lawful money of the United States the account allows us to pay you through some other means."
What a Key!!
http://farm4.staticflickr.com/3210/3...e0ca0b0f_z.jpg
From what I recall, a note is for the most part held valid only if it is payable in money. or bill of exchange is payable in money only. As in, it doesnt involve a requirement of the drawee or maker to deliver anything but money. However, I do recall a rare mention in a treatise on money that mentioned how it might be possible for a promissory note to be payable in money but somehow be finalized in goods. However, if credit is somehow or at some point declared to be money then a promissory note payable in credit in such a forum it seems would be valid.
That connects a few more dots - thank you.
Quote:
Originally Posted by allodial
Simply put: measured assessment of a situation. Good one allodial.
Attachment 1349
By the United States in Congress assembled. August 8, 1786
Investor words